FTSE 100 edges lower as Iran tensions offset UK GDP strength. Frasers posts stronger results, Foxtons cuts guidance and Brent crude rises.
Market Overview
The FTSE 100 opened marginally lower, while Germany’s DAX also slipped and the Euronext 100 was broadly unchanged. Overnight, US markets finished higher, with both the Nasdaq and S&P 500 extending gains. Investors balanced stronger-than-expected UK GDP data against continuing tensions surrounding Iran, while higher oil prices and geopolitical uncertainty kept risk appetite in check.
Commodity markets reflected the cautious tone. Brent crude continued to strengthen as concerns over potential disruption to global oil supplies supported prices, while gold was unchanged and copper edged lower. Natural gas was little changed, Bitcoin was broadly flat against sterling, and major currency pairs versus the pound showed only modest moves.
Market Numbers
FTSE 100: Down (-0.01%), 10,514.96
Euronext 100: Up (+0.00%), 1,915.62
DAX: Down (-0.37%), 24,908.18
NASDAQ: Up, 26,269.23
S&P 500: Up, 7,572.40
In the Headlines
Strong results – Frasers Group (LSE:FRAS)
Frasers Group reported higher revenue and improved retail profitability as international expansion continued to gather pace. The update highlights continued momentum in its Sports Direct-led growth strategy and reinforces management’s focus on expanding the business across overseas markets.
Guidance cut – Foxtons (LSE:FOXT)
Foxtons reduced its profit guidance after warning that lettings reforms and a weaker housing market are weighing on trading conditions. The update points to ongoing pressure on the UK property sector despite the group’s efforts to manage costs and maintain operational resilience.
Currencies (vs GBP)
USD: Down (-0.05%), $1.3539
CHF: Down (-0.05%), Fr.1.0895
EUR: Unchanged (0.00%), €1.1804
JPY: Down (-0.01%), ¥219.431
AUD: Unchanged (0.00%), $1.932
Bitcoin (BTC/GBP): Down, £47,421.03
Commodities
Copper: Down
Gold: Unchanged
Brent Crude: Up
Natural Gas: Unchanged
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